Patagonia - A Case of the Shenards

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Patagonia was 100 % held by the four members of the schinard family, ivan, melinda and his two children. Because they donated stock to a trust, they expect to pay about 17 point five million dollars on that gift. The other 98 % of the company, the common shares, which don't have voting rights, was donated to a newly established non profit organization called the holdfast collective.

The billionaire founder of Patagonia is giving away his company to fight climate change. He’s also getting a giant tax break.

This episode was produced by Victoria Chamberlin, fact-checked by Laura Bullard, engineered by Paul Robert Mounsey, and edited by Sean Rameswaram, who also hosted.

Transcript at vox.com/todayexplained

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